R12-billion fintech taking on Checkers, Woolworths, Pick n Pay, Clicks, Spar and Dis-Chem
Yoco, the South African fintech which has an estimated valuation of over R12.2 billion, has launched a subscription service where its customers can establish their own card-linked loyalty programmes.
A 2025 study found that 82% of South Africans use loyalty programmes, with the most popular offerings from retailers such as Clicks, Checkers, Pick n Pay, Dis-Chem, Woolworths, and Spar.
Yoco said that most of its merchants have returning customers and that loyalty programmes are a way to keep them coming back to small independent businesses.
“Yoco Loyalty, South Africa’s first broad-based, card-linked loyalty programme for independent businesses, rewards customers automatically every time they tap,” it said.
“1 in 3 customers that visit Yoco food & beverage merchants are coming back at least twice a month, and now, that loyalty can be recognised and rewarded.”
The Yoco Loyalty programme is included in the company’s Plus plan for merchants, which costs R249 per month. That is the flat rate they pay for the capacity to create their loyalty programmes.
Merchants can manage the programme on the Yoco App, with every payment made on Yoco-branded card payment machines generating Loyalty Points.
“Customers can check their points balance any time via WhatsApp. No app download, no login required,” said Yoco.
Customers can then redeem their accumulated loyalty points at merchants by using the cell numbers they originally used to sign up to the programme.
Those who join the loyalty programme receive loyalty point updates through a Yoco WhatsApp chatbot, where they can also check their balances at individual merchants.
Yoco supported the rollout of a similar card-linked loyalty reward system for Platō Coffee in 2025. The system worked through Yoco’s Table platform.
At the time, Yoco integrated its platform with technology from Yoyo, the company behind popular reward programmes from Pick n Pay, Spur and others.
“Using Table by Yoco, our integrated point-of-sale and payments solution, Platō was able to embed Yoyo’s rewards engine directly into the checkout flow,” it said at the time.
“Customers simply tap their card or smart wallet, and rewards are earned automatically. No sign-up forms or QR codes required.”
Yoco launches agentic AI for merchants
The launch of the Loyalty Programmes for merchants coincided with a slate of new products the fintech released this week.
This included the rollout of Yoco AI and the Yoco Connect platform, providing a simplified platform for merchants to focus on, reducing the need for numerous other apps and tools.
Carl Wazen, Yoco’s chief business officer and co-founder, said the company was giving small businesses tools usually reserved for “big business”.
“Today, we’re giving them the tools that used to belong only to big business, at a price built for small business. We call it the unfair advantage,” he said.
It revealed an agentic AI for merchants, which it said was “coming soon.” The Yoco AI will reportedly analyse the sales patterns and costs of each small business that uses it.
The AI is made to provide business advice and intelligence based on internal metrics. Business owners will be able to identify trends and other insights without requiring manual reviews.
It comes after the company acquired local AI platform provider Dyner.AI for an undisclosed sum in May, Yoco’s first major acquisition.
“In the past, we’ve done a small number of acquisitions, but this is different in both strategic importance and long-term ambition,” Wazen told MyBroadband previously.
Dyner.AI built an AI platform that served restaurants and independent businesses in South Africa, including Platō Coffee. It was founded by actuaries Thalentha Ngobeni and Chris du Plessis.
“The partnership will allow Dyner to leverage Yoco’s infrastructure, scale, and merchant reach to accelerate AI adoption across more than 200,000 merchants and beyond,” said Yoco at the time.
“For independent business, this partnership means access to intelligent tools that simplify operations, surface important insights, and reduce costly inefficiencies.”
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